Travis Perkins says trading remained strong in third quarter
Travis Perkins, the owner of DIY retailer Wickes, has reported strong trading in its third quarter with growth in total and like-for-like sales.
In the three months to 30 September, total sales rose by 6.9% while like-for-like sales climbed by 5.7%.
The group said trading was consistent with expectations at the start of the year.
Travis Perkins chief executive John Carter said: "Trading has remained strong for most of our businesses and the group's continued good performance is underpinned by the successful introduction of a number of self-help initiatives. We have outperformed our markets whilst making strategic investments that we are confident will support continued market share gains.”
The consumer division, which includes Wickes, saw like-for-like sales growth of 6.4% with total sales rising by 8.5%.
The group said a number of programmes were commenced or completed at Wickes during the quarter. This included the national roll out of click & collect, the introduction of a broader seasonal offer and improved communication of the kitchen and bathroom offer.
Carter said a strengthened management team at Wickes had continued to build on the early progress seen in the second quarter.
Meanwhile, like-for-like sales in the general merchanting division rose by 10.9% but fell by 5.1% in the plumbing division due to a weaker than expected market.
Carter added: “I am confident that our plans to improve each of our businesses, resulting in profitable organic growth, combined with our strong focus on returns, will create substantial further shareholder value."
Email this article to a friend
You need to be logged in to use this feature.
Please log in here